China Armco Metals Begins Trading Under "CNAM"

Jul. 18, 2008 (China Knowledge) - China Armco Metals, Inc, which imports metal ores and non-ferrous metals and is planning to get into scrap metals recycling, announced yesterday on the OTC bulletin Board that its common shares have started trading under the symbol “CNAM.”

Cox Distributing, Inc., a distributor of organic fertilizer products, acquired 100% of Armco & Metawise (HK) Ltd, a privately held company operating in Hong Kong and mainland China, in June 2008. Cox paid Feng Gao, the sole shareholder of Armco, US $6,890,000 in the form of a promissory note. Meanwhile, Cox Distributing issued Ms. Gao stock options to purchase 5,300,000 shares of Cox Distributing common stock at a price of HK$1.30 per share and 2,000,000 shares at HK$5.00 per share.

Cox Distributing then changed its name to China Armco, after the deal. The new company intends to expand Armco's import business, besides constructing a steel recycling facility with an initial capacity of 1 million metric tons.

Source: http://news.alibaba.com/134298_China/323775/China_Armco_Metals_Begins_Trading.htm